Guggenheim Issues Positive Forecast for Primoris Services (NYSE:PRIM) Stock Price

Primoris Services (NYSE:PRIM) had its price objective increased by Guggenheim from $184.00 to $195.00 in a research note published on Monday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Several other analysts also recently commented on the company. Zacks Research downgraded Primoris Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 31st. Weiss Ratings reiterated a “buy (b)” rating on shares of Primoris Services in a report on Tuesday, January 20th. Mizuho increased their target price on Primoris Services from $128.00 to $143.00 and gave the stock a “neutral” rating in a report on Wednesday, February 25th. UBS Group increased their target price on Primoris Services from $165.00 to $176.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. increased their target price on Primoris Services from $165.00 to $171.00 and gave the stock a “neutral” rating in a report on Wednesday, April 1st. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $157.00.

Primoris Services Trading Down 0.1%

Shares of Primoris Services stock opened at $164.66 on Monday. The firm has a market cap of $8.93 billion, a P/E ratio of 32.74 and a beta of 1.38. Primoris Services has a 12 month low of $53.13 and a 12 month high of $174.43. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.26 and a quick ratio of 1.26. The business’s fifty day simple moving average is $150.98.

Primoris Services (NYSE:PRIM) last issued its quarterly earnings data on Monday, February 23rd. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.95 by $0.13. The business had revenue of $1.86 billion for the quarter, compared to the consensus estimate of $1.82 billion. Primoris Services had a return on equity of 18.67% and a net margin of 3.63%.The firm’s revenue was up 6.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.13 EPS. Primoris Services has set its FY 2026 guidance at 5.800-6.000 EPS. Analysts predict that Primoris Services will post 5.73 EPS for the current fiscal year.

Primoris Services Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 0.2%. The ex-dividend date was Tuesday, March 31st. Primoris Services’s dividend payout ratio is 6.36%.

Hedge Funds Weigh In On Primoris Services

Several hedge funds have recently modified their holdings of PRIM. GSA Capital Partners LLP acquired a new stake in Primoris Services in the 3rd quarter valued at about $1,726,000. Nordea Investment Management AB acquired a new stake in Primoris Services in the 4th quarter valued at about $7,181,000. J.W. Cole Advisors Inc. acquired a new stake in Primoris Services in the 3rd quarter valued at about $1,193,000. Leuthold Group LLC lifted its stake in Primoris Services by 1,350.3% in the 3rd quarter. Leuthold Group LLC now owns 48,947 shares of the company’s stock valued at $6,722,000 after purchasing an additional 45,572 shares during the last quarter. Finally, Federated Hermes Inc. lifted its stake in Primoris Services by 3.5% in the 3rd quarter. Federated Hermes Inc. now owns 359,876 shares of the company’s stock valued at $49,422,000 after purchasing an additional 12,091 shares during the last quarter. Institutional investors own 91.82% of the company’s stock.

About Primoris Services

Primoris Services Corporation, a specialty contractor company, provides a range of construction, fabrication, maintenance, replacement, and engineering services in the United States and Canada. It operates through three segments: Utilities, Energy/Renewables, and Pipeline Services. The Utilities segment offers installation and maintenance services for new and existing natural gas distribution systems, electric utility distribution and transmission systems, and communications systems. The Energy/Renewables segment provides a range of services, including engineering, procurement, and construction, as well as retrofits, highway and bridge construction, demolition, site work, soil stabilization, mass excavation, flood control, upgrades, repairs, outages, and maintenance services to renewable energy and energy storage, renewable fuels, petroleum, refining, and petrochemical industries, as well as state departments of transportation.